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  • IMPLEMENTATION

    COMPLETION

    MEMORANDUM (ICM) Extractive Industries Transparency Initiative (EITI) Multi-Donor Trust Fund

    December 14, 2016

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  • 1

    Table of contents

    A. BASIC TRUST FUND INFORMATION......................................................................2

    B. TRUST FUND DEVELOPMENT OBJECTIVES AND DESIGN ………………….......3

    C. OUTCOME………………………………………………………………………….………8

    D. RISK TO DEVELOPMENT OUTCOME …..…………………………………………...20

    E. PERFORMANCE………………………………………………………………………….23

    F. LESSONS LEARNED/ RECOMMENDATIONS……………….………………………25

    G. ICM PROCESSING AND COMMENTS ….……………………………………………26

    H. ANNEX 1 – REGIONAL EITI-MDTF GRANT DISBURSEMENTS…………………..27

    I. ANNEX 2 – GLOBAL KNOWLEDGE EITI-MDTF GRANT DISBURSEMENTS…….32

  • 2

    A. BASIC TRUST FUND INFORMATION 1

    TF Name: Extractive Industries Transparency Initiative Multi-Donor Trust Fund (MDTF) TF Number: TF053509 Task Team Leader Name/TF Managing Unit: Paulo de Sa GEEDR at Trust Fund Closing Date TF Amount (as committed by donors): USD58,302,662 were committed by donors for the MDTF. In addition the United States committed USD13,476,000 for the complementary USAID SDTF Recipient of TF funds (Bank/Recipient, if Recipient state name of recipient government and implementing agency): Hybrid Type of TF (Free-standing/ programmatic/ new TF for an ongoing program): Programmatic Single/Multi Donor: Multi Donor Donor(s) Name(s): Australia, Belgium, Canada, Denmark, the EU, Finland, France, Germany, Japan, the Netherlands, Norway, Spain, Switzerland, and UK2 TF Program Source Code: EITI Purpose of TF (Co-financing/Investment financing/ Debt Service/ Advisory Activities- Bank/Advisory Activities-Recipient, etc.): Advisory Activities-Bank; Advisory Activities-Recipient TF Approval/IBTF Clearance Date: November 23, 2005 TF Effectiveness Date: August 25, 20043 TF Final Closing Date: December 31, 2015 TF Final End Disbursement Date: June 30, 2016 Date of ICM Submission to TFO: December 15, 2016 Cost and Financing Table: - see Table 1 overleaf

    1 Data provided by World Bank EITI MDTF Secretariat. This EITI ICM was prepared in parallel with the ICM for

    the Extractive Industries Technical Assistance Facility (EI TAF) MDTF which was initiated in 2009. The two

    MDTFs each had their own Program Manager but in 2012 the two Program Manager positions were eliminated by

    World Bank management and the two MDTFs were subsequently overseen by the (then) SEGOM Sector Manager

    and were managed by the same World Bank Secretariat. The two MDTFs have been succeeded by the Extractives

    Global Programmatic Support (EGPS) program. 2 In addition the United States supported a complementary USAID SDTF 3 Effectiveness is before Approval of second IBTF

  • 3

    Table 1: EITI MDTF Cost and Financing Table

    Donor Contribution

    (USD) Contribution

    (%) MDTF Donors Australia 15,508,100 27% Canada 12,520,045 21% United Kingdom 10,848,558 19% Spain 4,924,860 8% Germany 2,993,870 5% France 1,810,628 3% Norway 1,727,749 3% The Netherlands 1,500,000 3% Switzerland 1,499,987 3% European Commission 1,496,487 3%

    Belgium 1,395,144 2% Finland 1,061,780 2% Japan 557,350 1% Denmark 458,085 1% Total MDTF 4 58,302,662 100% Other income and Receipts 1,743,282 Total Receipts 60,045,944 Administration Fee 2,915,132 Disbursements 47,183,005 Undisbursed 9,947,807

    B. TRUST FUND DEVELOPMENT OBJECTIVES AND DESIGN

    1. Introduction

    According to the Initiating Brief for a Trust Fund (IBTF), the objective of the Extractive Industries Transparency Initiative (EITI) Multi-Donor Trust Fund (MDTF) is to support the establishment of EITI countries through programs of cooperation between governments, the private sector and civil society, supported by the international community, to include activities in support of the six EITI criteria (agreed at the London Conference on EITI in March 2005) which participating countries need to meet or, if possible, exceed in order to be considered to be successfully implementing EITI. The six EITI criteria are as follows:

    1. Regular publication of all material oil, gas and mining payments by companies to governments (“payments”) and all material revenues received by governments from oil, gas and mining

    4 In addition the United States contributed USD13,476,000 through the USAID SDTF

  • 4

    companies (“revenues”) to a wide audience in a publicly accessible, comprehensive and comprehensible manner.

    2. Where such audits do not already exist, payments and revenues are the subject of a credible, independent audit, applying international auditing standards.

    3. Payments and revenues are reconciled by a credible, independent administrator, applying international auditing standards and with publication of the administrator’s opinion regarding that reconciliation including discrepancies, should any be identified.

    4. This approach is extended to all companies including state-owned enterprises. 5. Civil society is actively engaged as a participant in the design, monitoring and evaluation of this

    process and contributes towards public debate. 6. A public, financially sustainable Work Plan for all the above is developed by the host government,

    with assistance from the international financial institutions where required, including measurable targets, a timetable for implementation, and an assessment of potential capacity constraints.

    No revision has been made to the original development objective of this Trust Fund. In 2009, when the United States decided to join the EITI-MDTF, they were unable to make a contribution to the EITA MDTF for legislative reasons. To address these issues, the World Bank and USAID established a parallel single- donor trust fund (USAID SDTF) following which the EITI Implementation Support Facility (the Facility) was established, which included the existing MDTF plus the new USAID SDTF. The Facility is usefully summarized as follows: “The Facility is intended to provide implementation support to the EITI, an association established under the laws of the Kingdom of Norway, through country, regional and global activities consistent with the principles articulated in the Statement of Principles and Agreed Actions adopted at the first plenary conference in London in June 2003 and the criteria articulated in the Statement of Outcomes adopted at the second plenary conference in London in March 2005 (the "EITI Principles and Criteria") by the partnership that has now become the EITI. The Bank, acts as financial and program administrator for the Facility (the "Administrator"), which consists of multiple trust funds established by the Administrator in its sole discretion that are expected to be operationally equivalent (collectively, the "Facility Trust Funds" and each, a "Facility Trust Fund"). The funds from the Facility Trust Funds (the "Contribution Funds") will be used to develop, broaden and increase transparency over payments and revenues in the extractive sectors in countries needing these resources” 5 The MDTF and USAID SDTF funds were co-managed by the same World Bank Secretariat and ran together seamlessly until the MDTF closed on December 31, 2015. The SDTF was extended for an additional two years for a Closing Date of December 31, 2017 to allow for disbursements to be completed. The MDTF published detailed Annual Reports for 2013-20156 which were submitted to the donors. These reports are publically available and provide year by year (for 2013-2015) details of the results achieved, support for civil society organizations (CSOs), and support for Country and Global Work Programs and country by country updates. These three Annual Reports do not distinguish between MDTF and SDTF grants and disbursements – both are characterized as MDTF grants and disbursements. Combining the two together reflects their complementarity and co-management. Since this combined coverage in the

    5 Source: Trust Fund Administration Agreement between the Kingdom of Denmark, and the International Bank for

    Reconstruction and Development and the International Development Association concerning the Multi-Donor Trust

    Fund for EITI Implementation Support (TF053509) dated October 3, 2011. 6 Links to EITI-MDTF Annual Reports 2013, 2014, and 2015.

    http://documents.worldbank.org/curated/en/603591468331215476/pdf/835380AR0Box380020130FINAL1900hours.pdf http://documents.worldbank.org/curated/en/510801468165866464/pdf/932920AR0Extra00Box385375B00PUBLIC0.pdf file://///LDrive50A/HQ-Private0/wb150190/Home/EITI/MDTF%20Annual%20Report%202015:%20http:/documents.worldbank.org/curated/en/6043414681967526